JDSU Issues Statement in Response to Sandell Asset Management

Milpitas, Calif., January 15, 2015 -- JDSU (NASDAQ: JDSU) today issued the following statement:

The JDSU Board of Directors remains committed to acting in the best interest of all shareholders and to strong corporate governance. Consistent with the Board’s historical approach of regularly reviewing corporate governance best practices, and after discussions with many of the Company’s shareholders both before and after the December 2014 Annual Meeting, the Company undertook an evaluation of potential changes to the advance notice provisions of the Company’s bylaws. The Board expects to finalize its decision on any such changes in this calendar quarter following additional shareholder outreach.

As JDSU continues to execute on its previously announced separation, the Board remains committed to evaluating all opportunities for additional or greater value creation.

Goldman Sachs and Centerview Partners are serving as financial advisors and DLA Piper is serving as legal counsel to JDSU.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements include the potential changes to the advance notice provisions of the Company’s bylaws and the timing of such changes, and the Company’s plans to separate the business into two publicly traded companies and the anticipated benefits, savings, and other impacts of the separation. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including the outcome of the Board’s deliberations, the requirement to obtain certain approvals, the ability to retain key employees, the ability to recognize anticipated cost savings, the ability of each company to function as a stand-alone entity, customer retention and financing risks. The Company also faces risks related to the operation of its existing business segments which are described in the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K filed August 26, 2014 and Quarterly Report on Form 10-Q filed November 4, 2014. Please refer to these filings for additional factors that could cause actual results to materially differ from current expectations. The forward-looking statements included herein are made only as of today’s date. The Company undertakes no obligation to update these statements.

About JDSU 

JDSU (NASDAQ: JDSU) innovates and collaborates with customers to build and operate the highest-performing and highest-value networks in the world. Our diverse technology portfolio also fights counterfeiting and enables high-powered commercial lasers for a range of applications. Learn more about JDSU at www.jdsu.com​ and follow us on JDSU Perspectives, Twitter,Facebook and YouTube.